There were filthy gains made with bitcoin cash over the last couple of days, as it broke at $1000 level vs. USD. BCH was trading at some new all-time highs at 1805 USD, and also it looks like the present bullish trend would continue. At the time of writing this analysis, the Bitcoin Cash price is steadily trading in the $1750 range and can be reaping handsome profits.
The support is at the 23.6 percent Fib retracement level and has gained from the previous value of $1220 to $1805 high.
The downward trend could be stopped in the short term between 1500 USD and 1400 USD. There’s a significant uptrend forming with a decent support at 1450-1500 range and can be seen in the 4-hours chart.
The support is about 50 percent Fib retracement level. Thus, any significant dips in the trading price towards 1500 USD may discover strong buying sentiment. If BCH nears the $1400 mark, it can open the doors to a whole down trend and support it at the $1000 level.
On the other hand, the price may probably split at around 1805 USD (high). It may even break the $2000 range, provided buyers still play.
BCH/USD Technical Indicators:
4-hours Moving Average – The MACD is currently placed at the bullish levels.
4-hours Relative Strength – The RSI is at super overbought levels.
The current Major Support Level is 1500 USD
The current Major Resistance Level is 2000 USD
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Bitcoin cash has experienced a surge in price towards $700 against the USD. BCH vs. USD is presently ameliorating and retaining an essential support at $600
• Bitcoin coins price surged up this past week and broke $600 in opposition to America dollar.
• There is a primary bullish trend line forming with an assist at $600 on the four hours chart of BCH/USD (information from Kraken).
• The pair should remain above the $600 handle if it has to stay inside the bullish region.
Bitcoin cash rate rocketed up towards $700 in opposition to the US dollar. BCH/USD is currently improving and retaining a vital support at $600.
Bitcoin cash price support
It changed into a bullish week for Bitcoin cash price as it climbed above the $500 and $600 ranges towards the US dollar. The price even made a nice upside pass above $650 to test the $700. But, it failed at $684 and started out a downward correction. There was a downward reaction going underneath the 23.6% Fib retracement level of the closing wave from the $430 low to $684 excessive.
However, the downward circulates found aid near $585. The 38.2% Fib retracement stage of the last wave from the $430 low to $684 high also protected losses. At the downward, there may be a leading bullish trend line forming with support at $600 at the 4-hours chart of BCH/USD. So long as the Bitcoin Cash and US Dollar stays above the trend line aid and $600, it is possible to continue shifting higher. At the upside, the $650 and $685 tiers are resistance tiers. However, the most important resistance is closer to $700.
In another fashion, a break of $600 could spark a wave towards $550 and the 50% Fib retracement level of the previous wave from the $450 low and $684 high; the general trend is bullish as long as the price stays above $600.
Bitcoin price stays well in the bullish quarter above $7000 towards the US dollar. BTC/USD would possibly break $7500 soon and could even test $8000.
• Bitcoin price is gaining tempo and will probably smash the $7500 resistance against US dollar.
• There is a significant bullish trend line forming with help at $7300 at the 4-hours chart of BTC/USD (information from SimpleFX).
• The pair is now nicely supported above the $7300 and $7000 aid level for higher gains.
Bitcoin price remains nicely within the bullish zone above $7000 towards US dollar. BTC/USD might damage $7500 quickly and could even take a look at $8000.
Bitcoin price stays purchase on Dips
There had been monster gains in Bitcoin fee because it moved above $6500 and $7000 in opposition to US dollar. The price attracted a variety of pace and investors succeeded in even breaking the $7200 barrier. A current high was formed close to $7477. Before $7477, there has been a swing high at $7438 for a downside correction. Dealers drive the rate backward in the direction of $7000, and a low was formed at $6945.
Later, the price recovered sharply and moved above $7200. There was even a near above the 76.four% Fib retracement level of the remaining drop from the $7438 high to $6945 low. It opened the doors for higher gains above $7438. It looks as if the price could soon smash $7500 and check the 1.236 Fib extension of the final drop from the $7438 excessive to $6945 low at $7555. Above the $7555 stage, the next target will be the 1.618 Fib extension of the ultimate drop from the $7438 high to $6945 low around $7700.
If consumers continue to be on top of the market, there’s even a risk of a test of $8000 within the coming days. At the disadvantage, there is a prime bullish fashion line forming with support at $7300 at the four hours chart of Bitcoin vs. USD, which is also a purchase region.
Ethereum price has surged to the positive level against the USD and Bitcoin. Regardless of this feat attained, ETH/USD needs to gain to surge up high above $305 and $310 for more gains.
Key points to consider
1. ETH suffered a decline in price towards $274USD and recovered rapidly.
2. There is a very important rough trend line forming with opposition at 350USD on the four hours chart of Ethereum vs. US Dollar
3. The duo has to break the $305 resistance and dwell above the 100 SMA (H4) to challenge $340.
Ethereum Price Resistance
This past week, we saw multiple swing moves in ETH fee toward $274 towards the US Dollar. The price tested the main assist region at $274 and commenced an upside movement. The recovery became solid because the price moved above $300 and the 100 simple transferring common (H4). However, the upside move changed into capped using the $305.50 resistance. There is also a critical bearish trend line forming with resistance at $305 at the four-hour chart of ETH/USD.
The trend line resistance averted profits and driven the price again underneath $300 and a 100 SMA (H4). The fee is currently trading close to the 23.6% Fib retracement level of the final wave from the $274.65 low to $305.22 high. There may be a respectable assist at $289.00 and the 50% Fib retracement degree of the wave from the $274. Sixty-five low to $305.22 excessive. It needs to hold losses below $288 in the brief term, or there is a risk of a drawback flow in the direction of $280.
On the upside, investors want to break the trend line resistance and $305 for greater gains. The following resistance is at $310 accompanied by the $325. An essential resistance is at $340 where investors would appear.
4 hours MACD – The MACD is about to move back in the bullish zone.
4-hours RSI – The RSI is currently just above the 50 level.
One of the main problems of using Bitcoins is that you are responsible for the safety of your own currency. That is not a centralized security mechanism. That is why you have to always take the extra steps; in order to ensure that you are able to secure the Bitcoins which you own. Moreover, whenever you are choosing the wallets in order to store the Bitcoins; you have to choose them pretty carefully as well.
Different wallets offer different security features. You have to find out which of the features are more important for you. Accordingly, you would choose the electronic wallet. Moreover, when it comes to the Bitcoin wallets; you can choose between the hardware wallets as well as the electronic wallet. You have to look into all of these points and thereafter only you would be able to choose the wallet which is the perfect option for you.
One name which you would often hear about; when it comes to the electronic wallet for Bitcoins is the GreenAddress wallet. If you’re hearing about this wallet for the 1st time; today we would not only debut it but also explain what exactly this wallet is and how you can use it on a consistent basis in order to keep your Bitcoins secure and safe.
What is GreenAddress wallet?
GreenAddress Bitcoin wallet is an electronic wallet which can keep your Bitcoins completely safe as it is a host of different security features. It also provides you with the 2FA authentication as well. Moreover, it provides you with instant Bitcoin transaction capability. Thus, you would not have to wait for a longer period of time in order to complete the transactions as well. At the same point of time, you need to understand that it provides you with the log of the entire transaction history as well. This makes it much easier for you to view any of the transactions which you have done in the past as well.
In order to conduct any transactions, 2 keys would be needed. One of the keys is present with the user of the wallet and another key is present with the wallet company that is GreenAddress. One thing however which you have to keep in mind is that you need to take the backup of the keys as well. In between, when the site goes down due to high load, you would have the keys with you which would keep your Bitcoins entirely secure. That is why it is always a better idea to have the keys with you.
As you can see, there is plenty of security features employed by the GreenAddress which makes it much more secure as compared to some of the other electronic Bitcoin wallets.
We would now go into some of the features of this wallet in order to help you better understand why you should opt for this wallet rather than some of the others.
Robust security features:
If you’re looking into the security features of this wallet, you would realize that they are much more advanced as compared to some of the other wallet options. The 2 factors security authentication is just one of the 4 security types which are used in the wallet. Thus you can be sure that the security which is incorporated is pretty robust.
Permanent payment address:
Instead of always having a new Bitcoin wallet ID, you have a single permanent address as well. Thus, whenever you want to post that publicly, you need to do is to take the permanent wallet ID and you can post it publicly and receive continuous payments as well. This would make it much easier for you to use the wallet whenever you want. You can even use it for regular buying and selling of Bitcoins as well.
This wallet is not just limited to the smartphones. It can run on the smartphones as well as computers. That is why, the device on which you use it, is entirely up to you. This makes it much easier for you to use the wallet as and when you want. You can even switch between the devices while using the wallet. This ensures that you have to just log into the newer device and you would be able to use it again. Thus, you are not restricted to any kind of devices.
Open source wallet:
The technology behind this wallet is entirely open source. This ensures that more and more development is possible. In fact, there are a wide variety of developers which are currently working for the development of this wallet and to increase the security features to the next level. This ensures that you do not have to worry about security at any point in time whenever you are opting for this particular wallet.
GreenAddress: Wallet setup via Chrome App from GitHub